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Aviat Networks Announces Fiscal 2025 First Quarter and Three Month Financial Results

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Total Revenue of $88.4 million; Up 1.7% Year-Over-Year

Adjusted EBITDA of $(7.7) million

Non-GAAP Diluted Earnings per Share of $(0.87)

AUSTIN, Texas, Nov. 5, 2024 /PRNewswire/ — Aviat Networks, Inc. (“Aviat Networks,” “Aviat,” or the “Company”), (Nasdaq: AVNW), the leading expert in wireless transport and access solutions, today reported financial results for its fiscal 2025 first quarter ended September 27, 2024.

First Quarter Highlights

Continued to gain share of demand in North America based on FCC filing dataClosed acquisition of 4RF and secured first order for new Aprisa 5G cellular router to a North American utility companyBegan shipping product to recently won state-wide private network customer on the East Coast

First Quarter Financial Highlights

Total Revenues: $88.4 million, up 1.7% from the same quarter last yearGAAP Results: Gross Margin 22.4%; Operating Expenses $35.4 million; Operating Loss $(15.6) million; Net Loss $(11.9) million; Net Loss per diluted share (“Net Loss per share”) $(0.94)Non-GAAP Results: Adjusted EBITDA $(7.7) million; Gross Margin 23.2%; Operating Expenses $30.0 million; Operating Loss $(9.5) million; Net Loss $(11.1) million; Net Loss per share $(0.87)Net cash and cash equivalents: $51.0 million; cash net of debt: $(32.3) million

Fiscal 2025 First Quarter and Three Months Ended September 27, 2024

Revenues

The Company reported total revenues of $88.4 million for its fiscal 2025 first quarter, compared to $86.9 million in the fiscal 2024 first quarter, an increase of $1.5 million or 1.7%. North America revenue of $42.2 million decreased by $(12.6) million or (23.0)%, compared to $54.9 million in the prior year due lower tier 1 demand and timing of certain private network projects. International revenue of $46.2 million increased by $14.1 million or 44.1%, compared to $32.1 million in the prior year. This growth was due to the addition from the Pasolink acquisition.

Gross Margins

In the fiscal 2025 first quarter, the Company reported GAAP gross margin of 22.4% and non-GAAP gross margin of 23.2%. This compares to GAAP gross margin of 35.9% and non-GAAP gross margin of 36.2% in the fiscal 2024 first quarter, a decrease of (1,350) and (1,300) basis points, respectively. The decrease was driven by mix shift away from higher margin projects and regions in the quarter.

Operating Expenses

The Company reported GAAP total operating expenses of $35.4 million for the fiscal 2025 first quarter, compared to $26.3 million in the fiscal 2024 first quarter, an increase of $9.1 million or 34.4%. Non-GAAP total operating expenses, excluding the impact of restructuring charges, share-based compensation, and merger and acquisition expenses for the fiscal 2025 first quarter were $30.0 million, compared to $23.9 million in the prior year, an increase of $6.2 million or 25.8%.

Operating Income

The Company reported GAAP operating loss of $(15.6) million for the fiscal 2025 first quarter, compared to a GAAP operating income of $4.9 million in the fiscal 2024 first quarter, a decrease of $(20.5) million. Operating income decreased primarily due to lower gross margin and higher operating expenses as a result of the Pasolink and 4RF transactions. On a non-GAAP basis, the Company reported operating loss of $(9.5) million for the fiscal 2025 first quarter, compared to a non-GAAP operating income of $7.6 million in the prior year, a decrease of $(17.1) million.

Income Taxes

The Company reported GAAP income tax benefit of $(5.5) million in the fiscal 2025 first quarter, compared to a GAAP income tax expense of $0.4 million in the fiscal 2024 first quarter.

Net Income / Net Income Per Share

The Company reported GAAP net loss of $(11.9) million in the fiscal 2025 first quarter or GAAP net loss per share of $(0.94). This compared to GAAP net income of $3.6 million or GAAP net income per share of $0.30 in the fiscal 2024 first quarter. On a non-GAAP basis, the Company reported net loss of $(11.1) million or non-GAAP net income per share of $(0.87), compared to non-GAAP net income of $7.2 million or $0.60 per share in the prior year.

Adjusted EBITDA

Adjusted earnings before interest, tax, depreciation and amortization (“Adjusted EBITDA”) for the fiscal 2025 first quarter was $(7.7) million, compared to $8.9 million in the fiscal 2024 first quarter, a decrease of $(16.6) million.

Balance Sheet Highlights

The Company reported $51.0 million in cash and cash equivalents as of September 27, 2024, compared to $64.6 million as of June 28, 2024. As of September 27, 2024, total debt was $83.4 million, an increase of $35.0 million from June 28, 2024.

Fiscal 2025 Full Year Outlook

The Company is updating its fiscal 2025 full year guidance as follows:

Full year Revenue between $430 and $470 millionFull year Adjusted EBITDA between $30.0 and $40.0 million

Conference Call Details

Aviat Networks will host a conference call at 4:30 p.m. Eastern Time (ET) today, November 5, 2024, to discuss its financial and operational results for the fiscal 2025 first quarter ended September 27, 2024. Participating on the call will be Peter Smith, President and Chief Executive Officer; Michael Connaway, Sr. Vice President and Chief Financial Officer; and Andrew Fredrickson, Director of Corporate Development and Investor Relations. Following management’s remarks, there will be a question and answer period.

Interested parties may access the conference call live via the webcast through Aviat Network’s Investor Relations website at investors.aviatnetworks.com/events-and-presentations/events, or may participate via telephone by registering using this online form. Once registered, telephone participants will receive the dial-in number along with a unique PIN number that must be used to access the call. A replay of the conference call webcast will be available after the call on the Company’s investor relations website.

About Aviat Networks

Aviat Networks, Inc. is the leading expert in wireless transport and access solutions and works to provide dependable products, services and support to its customers. With more than one million systems sold into 170 countries worldwide, communications service providers and private network operators including state/local government, utility, federal government and defense organizations trust Aviat with their critical applications. Coupled with a long history of microwave innovations, Aviat provides a comprehensive suite of localized professional and support services enabling customers to drastically simplify both their networks and their lives. For more than 70 years, the experts at Aviat have delivered high performance products, simplified operations, and the best overall customer experience. Aviat is headquartered in Austin, Texas. For more information, visit www.aviatnetworks.com or connect with Aviat Networks on Facebook and LinkedIn.

Forward-Looking Statements

The information contained in this Current Report on Form 8-K includes forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including Aviat’s beliefs and expectations regarding outlook, business conditions, new product solutions, customer positioning, future orders, bookings, new contracts, cost structure, profitability in fiscal 2025, its recent acquisitions and acquisition strategy, process improvements, measures designed to improve internal controls, its ability to maintain effective internal control over financial reporting and management systems and remediate material weaknesses, plans and objectives of management, realignment plans and review of strategic alternatives and expectations regarding future revenue, gross margin, Adjusted EBITDA, operating income or earnings or loss per share. All statements, trend analyses and other information contained herein regarding the foregoing beliefs and expectations, as well as about the markets for the services and products of Aviat and trends in revenue, and other statements identified by the use of forward-looking terminology, including “anticipate,” “believe,” “plan,” “estimate,” “expect,” “goal,” “will,” “see,” “continue,” “delivering,” “view,” and “intend,” or the negative of these terms or other similar expressions, constitute forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, forward-looking statements are based on estimates reflecting the current beliefs, expectations and assumptions of the senior management of Aviat regarding the future of its business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Forward-looking statements should therefore be considered in light of various important factors, including those set forth in this document. Therefore, you should not rely on any of these forward-looking statements.

Important factors that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements include the following: the disruption the 4RF and NEC transactions may cause to customers, vendors, business partners and our ongoing business; our ability to integrate the operations of the acquired 4RF and NEC businesses with our existing operations and fully realize the expected synergies of the 4RF and NEC transactions on the expected timeline; disruptions relating to the ongoing conflict between Russia and Ukraine and the conflict in Israel and surrounding areas; continued price and margin erosion in the microwave transmission industry; the impact of the volume, timing, and customer, product, and geographic mix of our product orders; our ability to meet financial covenant requirements; the timing of our receipt of payment; our ability to meet product development dates or anticipated cost reductions of products; our suppliers’ inability to perform and deliver on time, component shortages, or other supply chain constraints; the effects of inflation; customer acceptance of new products; the ability of our subcontractors to timely perform; weakness in the global economy affecting customer spending; retention of our key personnel; our ability to manage and maintain key customer relationships; uncertain economic conditions in the telecommunications sector combined with operator and supplier consolidation; our failure to protect our intellectual property rights or defend against intellectual property infringement claims; the results of our restructuring efforts; the effects of currency and interest rate risks; the ability to preserve and use our net operating loss carryforwards; the effects of current and future government regulations; general economic conditions, including uncertainty regarding the timing, pace and extent of an economic recovery in the United States and other countries where we conduct business; the conduct of unethical business practices in developing countries; the impact of political turmoil in countries where we have significant business; our ability to realize the anticipated benefits of any proposed or recent acquisitions; the impact of tariffs, the adoption of trade restrictions affecting our products or suppliers, a United States withdrawal from or significant renegotiation of trade agreements, the occurrence of trade wars, the closing of border crossings, and other changes in trade regulations or relationships; our ability to implement our stock repurchase program or that it will enhance long-term stockholder value; and the impact of adverse developments affecting the financial services industry, including events or concerns involving liquidity, defaults or non-performance by financial institutions.

For more information regarding the risks and uncertainties for Aviat’s business, see “Risk Factors” in Aviat’s Form 10-K for the fiscal year ended June 28, 2024 filed with the U.S. Securities and Exchange Commission (“SEC”) on October 4, 2024, as well as other reports filed by Aviat with the SEC from time to time. Aviat undertakes no obligation to update publicly any forward-looking statement, whether written or oral, for any reason, except as required by law, even as new information becomes available or other events occur in the future.

Investor Relations:
Andrew Fredrickson
Director, Corporate Development & Investor Relations
Phone: (512) 582-4626
Email: andrew.fredrickson@aviatnet.com

 

Table 1

AVIAT NETWORKS, INC.

Fiscal Year 2025 First Quarter Summary

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

 

Three Months Ended

(In thousands, except per share amounts)

September 27,
2024

September 29,
2023

Revenues:

Product sales

$               61,116

$               59,545

Services

27,313

27,364

Total revenues

88,429

86,909

Cost of revenues:

Product sales

52,201

36,313

Services

16,440

19,401

Total cost of revenues

68,641

55,714

Gross margin

19,788

31,195

Operating expenses:

Research and development

10,408

6,424

Selling and administrative

24,948

19,237

Restructuring charges

644

Total operating expenses

35,356

26,305

Operating (loss) income

(15,568)

4,890

Interest expense, net

1,115

99

Other expense, net

710

802

(Loss) income before income taxes

(17,393)

3,989

(Benefit from) provision for income taxes

(5,514)

432

Net (loss) income

$             (11,879)

$                 3,557

Net (loss) income per share of common stock outstanding:

Basic

$                 (0.94)

$                   0.31

Diluted

$                 (0.94)

$                   0.30

Weighted-average shares outstanding:

Basic

12,646

11,574

Diluted

12,646

11,943

 

Table 2

AVIAT NETWORKS, INC.

Fiscal Year 2025 First Quarter Summary

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

 

(In thousands)

September 27,
2024

June 28,
2024

ASSETS

Current Assets:

Cash and cash equivalents

$                    51,034

$                    64,622

Accounts receivable, net

169,002

158,013

Unbilled receivables

94,725

90,525

Inventories

79,559

62,267

Assets held for sale

2,720

Other current assets

32,942

27,076

Total current assets

427,262

405,223

Property, plant and equipment, net

11,883

9,480

Goodwill

15,153

8,217

Intangible assets, net

28,754

13,644

Deferred income taxes

91,317

83,112

Right-of-use assets

3,665

3,710

Other assets

12,823

11,837

Total long-term assets

163,595

130,000

Total assets

$                  590,857

$                  535,223

LIABILITIES AND EQUITY

Current Liabilities:

Accounts payable

$                  104,926

$                    92,854

Accrued expenses

39,137

42,148

Short-term lease liabilities

1,125

1,006

Advance payments and unearned revenue

79,380

58,839

Other current liabilities

21,234

21,614

Current portion of long-term debt

2,395

2,396

Total current liabilities

248,197

218,857

Long-term debt

80,980

45,954

Unearned revenue

7,522

7,413

Long-term operating lease liabilities

2,782

2,823

Other long-term liabilities

407

394

Reserve for uncertain tax positions

3,445

3,485

Deferred income taxes

412

412

Total liabilities

343,745

279,338

Commitments and contingencies

Stockholder’s equity:

Preferred stock

Common stock

127

126

Treasury stock

(6,479)

(6,479)

Additional paid-in-capital

861,023

860,071

Accumulated deficit

(590,392)

(578,513)

Accumulated other comprehensive loss

(17,167)

(19,320)

Total stockholders’ equity

247,112

255,885

Total liabilities and stockholders’ equity

$                  590,857

$                  535,223

 

AVIAT NETWORKS, INC.

Fiscal Year 2025 First Quarter Summary

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES AND REGULATION G DISCLOSURE

 

To supplement the consolidated financial statements presented in accordance with accounting principles generally accepted in the United States (GAAP), we provide additional measures of gross margin, research and development expenses, selling and administrative expenses, operating income, provision for or benefit from income taxes, net income, net income per share, and adjusted income before interest, tax, depreciation and amortization (Adjusted EBITDA), in each case, adjusted to exclude certain costs, charges, gains and losses, as set forth below. We believe that these non-GAAP financial measures, when considered together with the GAAP financial measures provide information that is useful to investors in understanding period-over-period operating results separate and apart from items that may, or could, have a disproportionate positive or negative impact on results in any particular period. We also believe these non-GAAP measures enhance the ability of investors to analyze trends in our business and to understand our performance. In addition, we may utilize non-GAAP financial measures as a guide in our forecasting, budgeting and long-term planning process and to measure operating performance for some management compensation purposes. Any analysis of non-GAAP financial measures should be used only in conjunction with results presented in accordance with GAAP. Reconciliations of these non-GAAP financial measures with the most directly comparable financial measures calculated in accordance with GAAP follow.

1We have not reconciled Adjusted EBITDA guidance to its corresponding GAAP measure due to the high variability and difficulty in making accurate forecasts and projections, particularly with respect to merger and acquisition costs and share-based compensation. In particular, share-based compensation expense is affected by future hiring, turnover, and retention needs, as well as the future fair market value of our common stock, all of which are difficult to predict and subject to change. Accordingly, reconciliations of forward-looking Adjusted EBITDA are not available without unreasonable effort.

 

Table 3

AVIAT NETWORKS, INC.

Fiscal Year 2025 First Quarter Summary

RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES (1)

Condensed Consolidated Statements of Operations

(Unaudited)

 

Three Months Ended

September 27,
2024

% of

Revenue

September 29,
2023

% of

Revenue

(In thousands, except percentages and per share amounts)

GAAP gross margin

$           19,788

22.4 %

$           31,195

35.9 %

Share-based compensation

104

183

Merger and acquisition and other expenses

608

43

Non-GAAP gross margin

20,500

23.2 %

31,421

36.2 %

GAAP research and development expenses

$           10,408

11.8 %

$             6,424

7.4 %

Share-based compensation

(143)

(146)

Non-GAAP research and development expenses

10,265

11.6 %

6,278

7.2 %

GAAP selling and administrative expenses

$           24,948

28.2 %

$           19,237

22.1 %

Share-based compensation

(1,417)

(1,505)

Merger and acquisition and other expenses

(3,781)

(146)

Non-GAAP selling and administrative expenses

19,750

22.3 %

17,586

20.2 %

GAAP operating (loss) income

$         (15,568)

(17.6) %

$             4,890

5.6 %

Share-based compensation

1,664

1,834

Merger and acquisition and other expenses

4,389

189

Restructuring charges

644

Non-GAAP operating (loss) income

(9,515)

(10.8) %

7,557

8.7 %

GAAP income tax (benefit) provision

$           (5,514)

(6.2) %

$                432

0.5 %

Adjustment to reflect pro forma tax rate

6,014

(132)

Non-GAAP income tax provision

500

0.6 %

300

0.3 %

GAAP net (loss) income

$         (11,879)

(13.4) %

$             3,557

4.1 %

Share-based compensation

1,664

1,834

Merger and acquisition and other expenses

4,389

189

Restructuring charges

644

Other expense, net

710

802

Adjustment to reflect pro forma tax rate

(6,014)

132

Non-GAAP net (loss) income

$         (11,130)

(12.6) %

$             7,158

8.2 %

Diluted net (loss) income per share:

GAAP

$             (0.94)

$               0.30

Non-GAAP

$             (0.87)

$               0.60

Shares used in computing diluted net (loss) income per share

GAAP

12,646

11,943

Non-GAAP

12,804

11,943

Adjusted EBITDA:

GAAP net (loss) income

$         (11,879)

(13.4) %

$             3,557

4.1 %

Depreciation and amortization of property, plant and equipment and intangible assets

1,830

1,344

Interest expense, net

1,115

99

Other expense, net

710

802

Share-based compensation

1,664

1,834

Merger and acquisition and other expenses

4,389

189

Restructuring charges

644

(Benefit from) provision for income taxes

(5,514)

432

Adjusted EBITDA

$           (7,685)

(8.7) %

$             8,901

10.2 %

(1)

The adjustments above reconcile our GAAP financial results to the non-GAAP financial measures used by us. Our non-GAAP net income excluded share-based compensation, and other non-recurring charges (recovery). Adjusted EBITDA was determined by excluding depreciation and amortization on property, plant and equipment, interest, provision for or benefit from income taxes, and non-GAAP pre-tax adjustments, as set forth above, from GAAP net income. We believe that the presentation of these non-GAAP items provides meaningful supplemental information to investors, when viewed in conjunction with, and not in lieu of, our GAAP results. However, the non-GAAP financial measures have not been prepared under a comprehensive set of accounting rules or principles. Non-GAAP information should not be considered in isolation from, or as a substitute for, information prepared in accordance with GAAP. Moreover, there are material limitations associated with the use of non-GAAP financial measures.

 

Table 4

AVIAT NETWORKS, INC. 

Fiscal Year 2025 First Quarter Summary

SUPPLEMENTAL SCHEDULE OF REVENUE BY GEOGRAPHICAL AREA

(Unaudited)

 

Three Months Ended

September 27,
2024

September 29,
2023

(In thousands)

North America

$                    42,225

$                    54,853

International:

Africa and the Middle East

10,450

9,954

Europe

5,600

5,252

Latin America and Asia Pacific

30,154

16,850

Total international

46,204

32,056

Total revenue

$                    88,429

$                    86,909

 

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SOURCE Aviat Networks, Inc.

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Global Times: China vows to promote steady growth of foreign trade

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BEIJING, Nov. 23, 2024 /PRNewswire/ — Officials from five Chinese departments including the Ministry of Commerce (MOFCOM), the Ministry of Foreign Affairs and the People’s Bank of China vowed to promote the steady growth of foreign trade at a press conference held on Friday in a move experts said is part of a package of policy measures to inject impetus and confidence into stabilizing the economy and help realize its annual economic targets.

Meanwhile, at the same press conference, the vice commerce minister highlighted China’s capacity in dealing with external shocks in the first explicit, publicly known response by a senior commerce official to the impact of the US’ potential 60 percent tariffs on Chinese imports. He stressed tariffs will only lead to high costs for consumers, and a stable, healthy and sustainable development of China-US economic and trade relations will benefit peoples of both countries and the world.

The press conference came after MOFCOM, together with the Ministry of Foreign Affairs, the Ministry of Industry and Information Technology, the People’s Bank of China and the General Administration of Customs rolled out nine measures to support foreign trade, involving support and guidance in insurance, financing, cross-border trade settlement, expanding scope on imports and exports, optimization of trade structure, visa facilitation and transportation.

Analysts noted that the latest move will further enhance the confidence of Chinese foreign trade enterprises, thereby injecting a stable and strong impetus to economic development, helping the country navigate the complexities of the global market.

Policy support

During the press conference, Chinese Vice Commerce Minister Wang Shouwen noted that the policy is aimed at responding to changes in the international trade situation and promoting solutions to practical difficulties faced by foreign trade enterprises in financing and maritime transport.

The raft of policy measures aimed at promoting the steady growth of foreign trade was deliberated and adopted by a State Council executive meeting on November 8.

The Ministry of Commerce on Thursday unveiled the policy measures in a notice. Among the nine specific measures, financial institutions are encouraged to increase financing support for micro, small and medium-sized companies based on market-oriented and law-based principles.

Efforts should be made to optimize cross-border trade settlement, promote the development of cross-border e-commerce, expand agricultural product exports, and support the imports of key equipment and energy resources, said the notice.

The overall situation of China’s foreign trade is relatively optimistic, but at the same time we should also see that uncertainties continue to accumulate. Maintaining stable growth in foreign trade and sustained improvement in competitiveness cannot be separated from policy support, Zhou Mi, a senior research fellow at the Chinese Academy of International Trade and Economic Cooperation, said on Friday.

“The timely joint efforts by five Chinese departments enhanced the confidence and expectations of Chinese foreign trade enterprises, and the measures will effectively help address problems of current foreign trade and future uncertainties,” Li Yong, a senior research fellow at the China Association of International Trade, told the Global Times on Friday.

Stable growth in foreign trade can provide more impetus for the domestic economy. The nine measures are part of a package of policy measures to inject growth momentum and confidence into stabilizing the economy, which will help realize the country’s annual economic targets, Wang Peng, an associate research fellow at the Beijing Academy of Social Sciences, said on Friday.

“Consumption, investment, exports and market sentiment all improved in October, and this trend is highly likely to continue in the last two months of the year, as the confidence of enterprises and consumers has been shored up thanks to the support policies,” Wang Peng told the Global Times.

Resilient against external shocks

At the press conference on Friday, Wang Shouwen also stressed that China has the capacity in dealing with external shocks largely owing to its resilient and vibrant economy that has great potential in a response to a question on the impact of the US’ potential 60 percent tariffs on Chinese imports.

China is building a “dual circulation” development pattern, which takes the domestic market as the mainstay while allowing domestic and international markets to reinforce each other. We are capable of resolving and withstanding the impact of external shocks, the official told reporters.

Wang Shouwen noted that history has also shown that the imposition of tariffs on China by a country does not solve the problem of its own trade deficit, on the contrary, it pushes up the prices of the country’s imports from China as well as from other countries.

This is because the tariffs are ultimately paid for by the consumers and the end-users of the importing country, which inevitably leads to an increase in the prices paid by consumers and an increase in the costs to the users, which also leads to inflation, the vice commerce minister further elaborated.

The vice commerce minister said that China and the US are the two largest economies in the world, and have strong complementarities. We believe that if China and the US can maintain a stable, healthy and sustainable development trend in their economic and trade relations, it will be beneficial to both the Chinese people and the American people, as well as the people of all countries in the world, and this is also what the international community expects, he said.

China is willing to engage in dialogue with the US on the basis of the principles of mutual respect, peaceful coexistence and win-win cooperation, in a bid to expand areas of cooperation, manage differences, and promote the stability of the bilateral trade and economic and trade relationship, Wang Shouwen said, noting that China will also firmly safeguard its own sovereignty, security and development interests.

Chinese companies have advantages in ordering, transportation, warehousing and other export-related areas that are difficult for other countries to replace, due to their complete supply chain and high production efficiency, Li said.

“Moreover, the country’s economic resilience provides enough market size to address some of the external risks. In particular, China has continued to promote new dynamics in foreign trade and new quality productive forces, which will cultivate new international competitive advantages,” Li noted.

“Years of China-US trade and investment have made the two sides interdependent. In addition to providing US consumers with cost-effective products, China’s exports of its intermediate products have become embedded in the US supply chain and have become part of the competitiveness of many US industries,” Li said, noting that the US needs to maintain rationality in its economic and trade policy toward China.

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SOURCE Global Times

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ZICC: Closer China- Honduras Ties

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BEIJING, Nov. 23, 2024 /PRNewswire/ — Renato Florentino, vice president of Honduras, accepted an exclusive interview with ZICC in Wuzhen during the 2024 World Internet Conference Wuzhen Summit. He said that China’s advancements in transportation, communication, and computing impressed him a lot. “We hope to continue to promote the cooperation between Honduras and China and maintain close cooperative relations,” he said.

SOURCE ZICC

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MMA SMARTIES Thailand 2024 – Celebrates Unparalleled Marketing Innovation and Excellence in Thailand

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BANGKOK, Nov. 23, 2024 /PRNewswire/ — The SMARTIES Thailand 2024 Awards brought together pioneers and the brightest minds of the advertising and marketing world, celebrating marketing innovation. Ultimately, 47 exceptional winners were honored, comprising 13 Gold, 15 Silver, 8 Bronze awards and 11 industry awards.

More than just a celebration, the SMARTIES Awards are a global movement that empowers brands, advertisers, agencies, publishers, and technology enablers. With over 50,000 entries globally, SMARTIES has extensive reach, encompassing 19 country awards, 4 regional awards, and one global awards program. This year, Thailand presented numerous impressive entries spanning diverse sectors, underscoring the country’s influence in strategic marketing and creative innovation.

SMARTIES Thailand 2024 honored the best in the industry with a remarkable lineup of winners. Brilliant & Million, Thailand was awarded Digital Agency of the Year, while Grab took home both Publisher of the Year and Brand of the Year. Friends & Mana Company Limited was named Independent Agency of the Year, and Spa-Hakuhodo secured Creative Agency of the Year. M&C Saatchi emerged as the Media Agency of the Year, and Babi Mild was recognized as the Most Resilient Brand of the Year. Publicis Groupe earned the title of Holding Agency Company of the Year, while the Juror’s Choice Award went to the impactful “Under My Skin” campaign. Mondelēz International claimed the honor of Advertiser of the Year, and Best in Show was awarded to the captivating “Oreo Pokemon Catch ‘Em All!” campaign.

Check Out the Winner List Here! 

A rigorous selection process, led by a dedicated jury panel featuring top minds in marketing in Thailand, identified the best campaigns. These campaigns strengthened engagement through advanced technology, and elevated marketing practices.

“SMARTIES continues to set new benchmarks in the industry,” said Rohit Dadwal, CEO of MMA Global APAC & Global Head of SMARTIES™ Worldwide. “This year’s winners have demonstrated unparalleled brilliance, proving that Thailand is a hub for exceptional marketing talent. SMARTIES is not just about winning awards; it’s about pushing boundaries and setting global standards. With the launch of our new SMARTIES Sonic logo this year, we are redefining how the SMARTIES brand resonates and engages with audiences around the world, marking a new era of recognition and innovation”.

Winning a SMARTIES award brings more than recognition. Winners gain a competitive edge, credibility, and an impact on prestigious rankings, such as the MMA SMARTIES Business Impact Index, RECMA, and the WARC Media 100.

About MMA Global: MMA Global is the leading global trade association for marketers, providing essential resources and expertise to empower marketers to navigate the complex world of Marketing. With a commitment to driving innovation and effectiveness, MMA Global plays a pivotal role in shaping the future of marketing.

SMARTIES: SMARTIES is the prestigious marketing awards program hosted by MMA Global, recognizing excellence in Marketing. The SMARTIES Awards celebrate the most innovative and impactful campaigns that push the boundaries of creativity and drive measurable business impact in today’s dynamic landscape.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/mma-smarties-thailand-2024—celebrates-unparalleled-marketing-innovation-and-excellence-in-thailand-302310807.html

SOURCE MMA Global APAC

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